USA Mega

New Mexico Mega Millions Jackpot Annuity Payout Schedule for Feb 13, 1998

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The tax information provided here is based on 2024 federal marginal rates and state tax rates.  It shows the final federal and state tax burdens each year, not the amount initially withheld by the lottery.

The Mega Millions annuity jackpot is awarded according to an annually-increasing rate schedule, which increases the amount of the annuity payment every year.  The table below shows the payout schedule for a jackpot of $15,000,000 for a ticket purchased in New Mexico, including taxes withheld.

Please note, the amounts shown are very close approximations to the amount a jackpot annuity winner would receive from the lottery every year.  They are not intended to specify the exact final tax burden, which may vary depending on how the winner chooses to invest or dispense their money, as well as deductions claimed.

State:

New Mexico

Drawing Date:Fri, Feb 13, 1998
Jackpot:$15,000,000
Federal Tax:37% marginal rate
State Tax: 5.9%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$225,772$49,933$13,321$162,518
2$237,060$53,546$13,987$169,528
3$248,913$57,494$14,686$176,733
4$261,359$61,850$15,420$184,088
5$274,427$66,424$16,191$191,811
6$288,148$71,227$17,001$199,921
7$302,555$76,269$17,851$208,436
8$317,683$81,564$18,743$217,376
9$333,567$87,123$19,680$226,764
10$350,246$92,961$20,664$236,620
11$367,758$99,090$21,698$246,970
12$386,146$105,526$22,783$257,837
13$405,453$112,283$23,922$269,248
14$425,726$119,379$25,118$281,229
15$447,012$126,829$26,374$293,809
16$469,363$134,652$27,692$307,019
17$492,831$142,866$29,077$320,888
18$517,472$151,490$30,531$335,451
19$543,346$160,546$32,057$350,743
20$570,513$170,054$33,660$366,799
21$599,039$180,038$35,343$383,657
22$628,991$190,914$37,110$400,966
23$660,441$202,551$38,966$418,924
24$693,463$214,769$40,914$437,779
25$728,136$227,598$42,960$457,578
26$764,543$241,068$45,108$478,366
27$802,770$255,213$47,363$500,194
28$842,908$270,064$49,732$523,113
29$885,054$285,658$52,218$547,178
30$929,306$302,031$54,829$572,446
Total$15,000,000$4,391,010$884,999$9,723,989

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Note: The Net Payment total above may be a few dollars off from the total after-tax annuity amount shown on the Jackpot Analysis page because the Jackpot Analysis page shows an average annual payment, whereas we calculate an exact payment here.